Threadneedle Investments has launched the Columbia Threadneedle SICAV-SIF Absolute Commodities Fund, which aims to deliver a 10-15% return on an annualised basis, net of fees, over a long term investment horizon.
The non-Ucits fund is being launched in response to client appetite for an actively managed absolute return product, the firm said. Columbia is the US-based fellow asset management subsidiary of Ameriprise.
Threadneedle launched its first commodities strategy in 2010 and currently manages in excess of $1bn.The latest fund will be managed by Nicolas Robin, who joined Threadneedle in 2010 and has over 12 years’ experience in long/short commodities and index trading.
He co-manages the $1bn Threadneedle (Lux) Enhanced Commodities Fund with David Donora. Since launch, the Threadneedle (Lux) Enhanced Commodities Fund returned 33.2% compared to the index return of 10.8%.
Robin said the fund will have the same strategies successfully implemented in the Threadneedle (Lux) Enhanced Commodities Fund, but will be an unconstrained, high conviction absolute return fund with more flexibility to implement views on the commodity markets.
The fund has been approved by the CSSF (Commission de Surveillance du Secteur Financier) and is for qualified and professional investors only and not available to retail investors.
Threadneedle is owned by Ameriprise Financial, a US diversified financial services company with over $681bn in owned, managed and administered assets. US-based Columbia Management had some $330bn under management as of 31 December 2012, and is the eighth largest manager of long-term mutual fund assets in the US.